Report Scope & Overview:
Air Powered Vehicle Market Size was valued at USD 76.41 million in 2022 and is expected to reach USD 2820.64 million by 2030 and grow at a CAGR of 57% over the forecast period 2023-2030.
An air-powered vehicle utilizes compressed air and non-polluting fuel as its power source. The increase in the price of fossil fuel as a result of its limited supply and availability, as well as the rise in the demand for emission-free vehicles, has led to the creation of air-powered vehicles. In comparison to the other available alternatives to the internal combustion engine vehicle, the air-powered vehicle has a longer lifespan, a higher energy density of the compressed air, and a lower level of toxicity. Air-powered vehicles are one form of vehicle that emits little or no pollution.
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The pressurized atmospheric gas provides the motivation for the air-powered vehicle. Since the vehicle uses compressed air rather than fuel for propulsion, it is regarded as an environmentally beneficial mode of transportation. In addition to this, the vehicle moves forward by the release and expansion of pneumatic pressure with the assistance of a pneumatic motor. An air injector is used to supply the engine of a vehicle that is powered by air with atmospheric pressure. A compact chamber is created by forcing air down into it; this further drives the crankshaft, which in turn powers the vehicle.
In 2021, Groupe PSA is working on a new full hybrid gasoline solution that utilizes compressed air's environmental benefits while also delivering the power of a gasoline engine. In addition to the typical gasoline engine, the vehicle has a hydraulic drive that is powered by nitrogen gas compressed by braking or deceleration energy.
MARKET DYNAMICS:
KEY DRIVERS:
The market has grown as a result of a growing awareness of the environmental impact.
The air-powered vehicle market is being driven by strict government regulations.
Emission standards to minimize carbon footprints around the world.
Conventional internal combustion engines are more expensive than air-powered vehicles.
The market for air-powered vehicles is expected to grow as fuel prices rise.
RESTRAINTS:
The absence of refueling facilities may limit market expansion.
The slow speed of air-powered cars will slow down the expansion of the market.
The market for air-powered vehicles is expected to grow in response to growing gasoline costs.
OPPORTUNITIES:
Increasing efforts on the part of governments and other concerned authorities.
The air-powered vehicle requires less fuel & is more efficient than the standard fossil-fuel-powered vehicle.
CHALLENGES:
Electric vehicles, such as BEVs and HEVs, are seeing a rise in popularity due to environmental concerns.
Subsidies and incentives for the purchase of electric vehicles are being granted by the government.
The market growth may be stifled by the growing demand for alternate modes of transportation.
IMPACT OF COVID-19:
The extent of government attempts to stimulate the economy, as well as the efficacy of those activities, will have a significant impact on GDP. The expansion of government spending on the aviation, automotive, construction, and infrastructure industries will have the greatest influence on the rate of GDP growth as well as the demand for oil. In addition, the epidemic has shifted the attention of automobile manufacturers toward the search for alternate fuel. In addition, the market for air-powered vehicles is going to expand as a direct result of this concentration. In addition, the adoption of cleaner technology in response to increased awareness of environmental concerns during the pandemic will result in an increase in the sales of air-powered vehicles.
KEY MARKET PLAYERS:
Tata Motors (India), Magnetic Air Car Inc, Motor Development International SA, Honda Motor Company, Ltd. (Japan), Matrix Comsec, APUQ, Groupe PSA (France), Engineair Pty Ltd (Australia), and Phinergy (Israel) are some of the affluent competitors with significant market share in the Air Powered Vehicle Market.
MARKET ESTIMATION:
Market, By Energy Mode:
The global market has been divided into the dual-energy mode, and single-energy mode based on the energy mode segment. In the year 2020, the single energy mode held a significant portion of the market for air-powered vehicles all over the world. In the year 2020, the segment held a proportion of the market that was greater than 58%. The single energy mode of the air-powered vehicle specifies that only compressed air can be used for the vehicle's propulsion.
Market, By Vehicle type:
The global market has been divided into passenger vehicles and commercial vehicles based on the vehicle type segment. The market for air-powered vehicles has been segmented into two categories: passenger vehicles and commercial vehicles, both of which are based on the type of vehicle. In 2020, the passenger vehicle segment of the worldwide market for air-powered vehicles accounted for a significant portion of the total revenue generated by the industry.
MARKET SEGMENTATION:
By Energy Mode:
Dual Energy Mode
Single Energy Mode
By Vehicle Type:
Passenger vehicles
Commercial vehicles
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REGIONAL ANALYSIS:
North America, Europe, Asia-Pacific, and the Rest of the World are the four key regions that make up the global air-powered vehicle industry. The Global Air Powered Vehicle Market is expected to be dominated by North America. The United States dominates the market in this region, providing about 75% of the total income. Market growth in this region is fueled by the development of clean energy for automobiles and an increasing focus on environmental sustainability.
Over the next five years, the Asia Pacific area is expected to have the highest CAGR of any market worldwide. Emerging economies like China and India, both of which have large automotive markets, are found in this region. In addition, governments and environmental authorities are increasing their environmental protection efforts, which is fueling the demand for air-powered vehicles in the region. Because of its low production costs and plenty of both experienced and inexpensive labor, as well as its technologically superior infrastructure, this region is well-known as a significant exporter of air-powered vehicles.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
| Report Attributes | Details |
|---|---|
| Market Size in 2021 | US$ 48.67 Million |
| Market Size by 2028 | US$ 1144.35 Million |
| CAGR | CAGR of 57% From 2022 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2022-2028 |
| Historical Data | 2017-2020 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Energy Mode (Dual Energy Mode, Single Energy Mode) • by Vehicle Type (Passenger Vehicles, Commercial vehicles) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Tata Motors (India), Magnetic Air Car Inc, Motor Development International SA, Honda Motor Company, Ltd. (Japan), Matrix Comsec, APUQ, Groupe PSA (France), Engineair Pty Ltd (Australia), and Phinergy (Israel) |
| Key Drivers | •The market has grown as a result of a growing awareness of the environmental impact. •The air-powered vehicle market is being driven by strict government regulations. |
| RESTRAINTS | •The absence of refueling facilities may limit market expansion. •The slow speed of air-powered cars will slow down the expansion of the market. |
Ans:- The market size is expected to reach USD 2820.64 million by 2030.
Ans:- Energy mode, Vehicle Type, and Region are the different segments of the market.
Ans:- Growing awareness of the environmental impact & strict government regulations are the primary market drivers for air powered vehicle market.
Ans:- Yes.
Ans:- North American region is anticipated to be the primary driver of the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of the Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Air Powered Vehicle Market Segmentation, By Energy Mode
8.1 Dual Energy Mode
8.2 Single Energy Mode
9. Global Air Powered Vehicle Market Segmentation, By Vehicle Type
9.1 Passenger vehicles
9.2 Commercial vehicles
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 the USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 the UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Tata Motors (India),
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Magnetic Air Car Inc
11.3 Motor Development International SA
11.4 Honda Motor Company, Ltd. (Japan)
11.5 Matrix Comsec
11.6 APUQ
11.7 Groupe PSA (France)
11.8 Engineair Pty Ltd (Australia)
11.9 Phinergy (Israel)
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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